(TSX: KBL)

EDMONTON, AB, Nov. 13, 2024 /CNW/ - K-Bro Linen Inc. ("K-Bro" or the "Corporation") today announces its Q3 2024 financial and operating results.

Q3 2024 Financial and Operating Highlights

Consolidated revenue increased 20.2% compared to Q3 2023, with healthcare revenue having increased by 6.0% and hospitality revenue by 36.8%.Adjusted EBITDA, Adjusted EBITDA Margin & Adjusted Net EarningsAdjusted EBITDA increased in the third quarter of 2024 by $4.9 million to $23.0 million compared to $18.1 million over the comparable 2023 period, a 27.2% increase.Adjusting items include costs of $0.6 million in the quarter related to non-recurring transaction and transition costs, offset by a gain on settlement of contingent consideration of $0.5 relating to Villeray.Adjusted EBITDA margin increased to 22.0% from 20.8% in the comparable period.Adjusted net earnings in the third quarter increased by $1.3 million to $8.3 million compared to $7.0 million in the comparative period of 2023.EBITDA, EBITDA Margin & Net EarningsEBITDA increased in the third quarter of 2024 by $5.1 million to $22.8 million compared to $17.7 million over the comparable 2023 period, a 29.1% increase.EBITDA margin increased to 21.9% from 20.4% in the comparable period as the result of the EBITDA contribution from the acquisition of Shortridge, as well as non-recurring transaction and transition costs in the third quarter of 2023.Net earnings in the third quarter of 2024 increased by $1.4 million to $8.1 million compared to $6.7 million in the comparative period of 2023, and as a percentage of revenue increased by 0.1% to 7.8%.For the third quarter of 2024, K-Bro declared dividends of $0.300 per common share.Long-term debt at the end of Q3 2024 was $135.9 million compared to $70.2 million at the end of fiscal 2023 due to the acquisitions of Shortridge and C.M.K-Bro entered into a three-year, $175 million committed, syndicated revolving credit facility on March 26, 2024. The facility includes access to a further $75 million accordion.

(TSX: KBL)

EDMONTON, AB, Oct. 25, 2024 /CNW/ - K-Bro Linen Inc. (the "Corporation") will release its financial results for the quarter ended September 30, 2024 on Wednesday, November 13, 2024 after market close.  The Corporation will hold a conference call and webcast to discuss the results on Thursday, November 14, 2024 at 9:00 a.m. Eastern Time (7:00 a.m. Mountain Time).

The conference call will include prepared remarks from Linda McCurdy, President and CEO, and Kristie Plaquin, Chief Financial Officer.  After the prepared remarks, the Corporation will accept questions from analysts and institutional investors.

(TSX: KBL)

EDMONTON, AB, Oct. 15, 2024 /CNW/ - K-Bro Linen Inc. (the "Corporation") announced today a dividend of 10.00 cents CDN per common share of the Corporation for the period from October 1 to 31, 2024, to be paid on November 15, 2024 to holders of record of common shares on October 31, 2024.

The Corporation's policy is for shareholders of record on the last business day of a calendar month to receive dividends during the fifteen days following the end of such month.  K-Bro designates this dividend as an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and similar provincial and territorial legislation.

(TSX: KBL)

EDMONTON, AB, Sept. 13, 2024 /CNW/ - K-Bro Linen Inc. (the "Corporation") announced today a dividend of 10.00 cents CDN per common share of the Corporation for the period from September 1 to 30, 2024, to be paid on October 15, 2024 to holders of record of common shares on September 30, 2024.

The Corporation's policy is for shareholders of record on the last business day of a calendar month to receive dividends during the fifteen days following the end of such month.  K-Bro designates this dividend as an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and similar provincial and territorial legislation.